COPENHAGEN, Denmark (AP) — Danish brewer Carlsberg has lowered its full-year earnings forecast after declining beer sales in Russia and Ukraine hurt second-quarter profits.Carlsberg, which had previously forecast single-digit growth in operating profit in 2015, said Wednesday it now expects a slight decline, citing “challenging market conditions” in Eastern Europe and weaker-than-expected results in Western Europe.It said the beer market declined 9 percent in Russia and 17 percent in Ukraine, where Moscow is accused of supporting a separatist rebellion. Russia’s sanctions on some food products from Western countries don’t apply to beer.Western European sales fell due to bad weather and …read more
Source: Business Insider
